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Nationwide"s chief people officer to retire, successor named

Gale King, who has been chief of personnel at Nationwide for more than a decade, is retiring in July. Vinita Clements has been picked to oversee human resources, real estate strategy, support services and culture for Nationwide's 30,000 e.....»»

Category: topSource: bizjournalsMar 25th, 2021

Jabil’s top money guy set to retire

Forbes Alexander, chief financial officer at Jabil Inc., will retire on Aug. 31. Jabil (NYSE: JBL), a St. Petersburg-based electronics services provider and one of the Tampa Bay area’s largest companies, already has named a successor for Alexander —.....»»

Category: topSource: bizjournalsApr 25th, 2018

Boomers are only making the 2021 housing crisis worse

Boomers are staying put in their houses as they age. That could be a big problem for other generations who want to build wealth through real estate. Baby boomers are staying put. Matt Henry Gunther/Getty Images Boomers have more real-estate wealth than any other generation, according to a NYT analysis of Fed data. Unlike previous generations, many of them aren't listing their houses for sale as they get older. It's exacerbating a historic housing shortage that's made it difficult for millennials to buy homes. See more stories on Insider's business page. Baby boomers hold more real-estate wealth than any other generation.The Silent Generation held that distinction until 2001, according to Michael Kolomatsky's analysis of Federal Reserve Data for The New York Times. As was typical of older generations, many had begun selling their homes to move in with their families or into assisted-living facilities or nursing homes, leaving boomers to take over as the biggest wealth holders in real estate.But boomers are now breaking tradition. They've surpassed the Silent Generation, per the Times' data analysis, holding the most real estate wealth of any generation for the past 20 years. While this peaked in 2011 at about 49%, boomers still hold 44% of real estate wealth in 2021, compared to 31% of Gen Xers, the next richest generation. By this token, Gen Xers should have held the most real estate wealth as of 2017, but they're still far behind.It's a sign that boomers are "aging in place," Kolomatsky writes, a growing concept that the pandemic has exacerbated. It's partly because some boomers are cautious of nursing homes in a Covid era, he added.But it's also because people are wary of putting their houses up for sale. Gay Cororaton, the director of housing and commercial research for the National Association of Realtors (NAR), previously told Insider that some owners haven't been listing their homes as a pandemic safety precaution. Others are wary of putting them on the market for fear of being unable to find an affordable replacement to buy, she said.Rather than engaging with a scorching real-estate market, many boomers are investing in remodeling instead. With the value of homes going up nationwide, they've became more willing to spend on remodeling than past generations, fueling a home improvement boom.Their willingness to stay put is also worsening the housing crisis of 2021, fueled by a rush for homeownership in a remote work era. A sudden crunch in the supply of lumber, combined with chronic underbuilding since the Great Recession, has coalesced into a historic housing shortage. If boomers don't move out of their homes to retire in line with their predecessors, the supply will just worsen.Read more: Millennials are getting screwed again by their 2nd housing crisis in 12 yearsHousing prices have reached record highs, sparking cutthroat competition and heated bidding wars rife with all-cash offers and higher down payments. While this has pushed many aspiring homeowners away from the housing hunt, it's been especially bad for millennials, many of whom are looking to buy a home for the first time.Housing was largely an out-of-reach dream for millennials for years. Soaring living costs, student debt, and the fallout of the Great Recession made saving for a down payment difficult. While some were able to catch up on savings and snag a home during the pandemic, largely driving 2020's housing boom, as shown by the National Association of Realtors' recent Generational Trends Report. But that has curdled into a logjam in 2021. Millennials have found themselves facing their second housing crisis in a dozen years. "Now that they have economically recovered and are looking to buy a home for the first time, we're faced with this housing shortage," Daryl Fairweather, chief economist at Redfin, previously told Insider. "They're already boxed out of the housing market."Boomers aren't helping matters. The longer they hold onto their houses, the harder it will be for other generations to build wealth through real estate.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 22nd, 2021

Realogy Named Great Place to Work®

Realogy Holdings Corp. has been named a certified Great Place to Work® for the fourth year in a row. The award is based entirely on current employee feedback about their experience working at Realogy. This year, 86% of Realogy employees said the company is a great place to work—27 percentage points higher than a typical […] The post Realogy Named Great Place to Work® appeared first on RISMedia. Realogy Holdings Corp. has been named a certified Great Place to Work® for the fourth year in a row. The award is based entirely on current employee feedback about their experience working at Realogy. This year, 86% of Realogy employees said the company is a great place to work—27 percentage points higher than a typical U.S.-based company, according to the National Employee Engagement Survey by Great Place to Work®. “I am incredibly proud that for the fourth consecutive year Realogy has been recognized as a Great Place to Work,” said Ryan Schneider, Realogy’s chief executive officer and president, in a statement. “As we continue to transform and accelerate Realogy’s leadership in both residential real estate and workplace culture, the Great Place to Work designation is especially meaningful. The direct feedback from our people reflects not only their company pride but also their strong dedication to supporting affiliated agents, franchise owners, customers, and each other, every day.” Over two-thousand employees participated in the Great Place to Work survey, with Realogy scoring particularly high ratings, 90% and up, to questions, such as feeling welcomed when joining the company, being given a lot of responsibility and people caring about each other. “Great Place to Work Certification isn’t something that comes easily—it takes ongoing dedication to the employee experience,” said Sarah Lewis-Kulin, vice president of global recognition at Great Place to Work, in a statement. “It’s the only official recognition determined by employees’ real-time reports of their company culture. Earning this designation means that Realogy is one of the best companies to work for in the country.” For more information, please visit www.realogy.com. The post Realogy Named Great Place to Work® appeared first on RISMedia......»»

Category: realestateSource: rismediaSep 22nd, 2021

Salesforce COO Bret Taylor is slowly taking over many of CEO Marc Benioff"s major leadership responsibilities. Over a dozen insiders explain his meteoric rise to the top.

Bret Taylor's profile is growing at Salesforce as he takes over the duties typically expected from a CEO, Insiders say. Niholas Kamm/AFP via Getty Images; Salesforce; Santiago Mejia/San Francisco Chronicle via Getty Images; Justin Sullivan/Getty Images; Samantha Lee/Insider In five years, Salesforce COO Bret Taylor has emerged as the heir apparent to Marc Benioff. Taylor's profile is growing as he takes over duties typically expected from a CEO, insiders say. Over a dozen of his past and current colleagues explain how his star rose so quickly. See more stories on Insider's business page. Salesforce and its CEO Marc Benioff have a well-earned reputation of crusading for social change: From its pressure campaign to get Indiana's "bathroom bill" repealed, to its new policy of helping employees leave Texas in the wake of a controversial new abortion law, the company is known for taking a stand on big issues. When Salesforce needs to talk about complicated topics among its own employees, though, it is increasingly Chief Operating Officer Bret Taylor who handles the toughest conversations - such as how the company handled the aftermath of the January 6th riots at the US Capitol.Taylor was the executive who sent the companywide email communicating with employees as the events unfolded, according to a memo viewed by Insider, and later disclosed at an all-hands meeting that Salesforce was reviewing its roster of customers to make sure its technology was not being used to incite violence.Employees say that the decision to make Taylor the internal face of the company on those matters is another sign that the company has spent much of the past few years grooming its COO to one day take over for Benioff, if and when the constantly-swirling rumors that he's planning to take a step back come true."When you see Bret taking on those hard conversations and Marc's nowhere to be found on the call," a former senior Salesforce executive told Insider, "you just know that's a test."Indeed, within five short years of joining the $250 billion cloud giant, Taylor has emerged as one of the company's top leaders, with Salesforce employees past and present telling Insider that he is spoken of openly as Benioff's most likely successor - matching a recent Reuters report saying much the same. He's widely seen by employees as running the company day to day, even as Benioff spends more time on bigger-picture strategy, philanthropy, and activism. A Salesforce spokesperson declined to comment on any succession plans but said that Benioff is a "hands-on CEO who has led Salesforce throughout the pandemic."For his part, Taylor himself dismissed the speculation about his future role as a "distraction" at best and "uncomfortable" at worst. In an interview arranged by the company, Taylor said he understands where it's coming from - especially as companies like Amazon make significant leadership transitions - but said he tries "not to pay attention to it because I think our management team is operating as cohesively as they ever have and so we're focused on working with each other right now."Taylor was already a seasoned tech exec with a storied career even before arriving at Salesforce: He cocreated Google Maps in 2005 and later succeeded Dustin Moskovitz as Facebook's chief technology officer. In 2012, Taylor cofounded Quip, a competitor to Google Docs, which was ultimately acquired by Salesforce in 2016. In 2017, Taylor was named chief product officer; in 2019, he became COO. So far, Taylor's biggest impact at Salesforce came in masterminding its $27.7 billion acquisition of Slack in 2020, with Benioff crediting the COO's vision for the future of work as the driving force behind the deal. This week, Taylor has the chance to bring that vision to the wider Salesforce community, as he makes his first big public appearance since the Slack deal closed at the company's Dreamforce mega-event. Insider spoke to more than a dozen current and former Salesforce employees, some of Taylor's past colleagues, and the company's top leaders, who describe him as a down-to-earth yet ambitious leader who draws a sharp contrast with Benioff's trademark bombastic salesmanship but makes up for it in engineering prowess. Some spoke on condition of anonymity because they were not authorized to speak with the media, but their identities are known to Insider.Click here to subscribe to Insider to read the full story. Do you work at Salesforce, or have insight to share? Contact Paayal Zaveri via Signal (925-364-4258) or email (pzaveri@insider.com) and Ashley Stewart via the encrypted-messaging app Signal (+1-425-344-8242) or email (astewart@insider.com).Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 21st, 2021

Root Insurance adds COO, revenue chief titles to CFO Dan Rosenthal

Root Inc. has named CFO Dan Rosenthal the company's first-ever chief operating officer. Rosenthal, 45, became a director in 2017 of the Columbus digital insurer and joined as CFO in November 2019. He helped lead it through several funding rounds and its October 2020 IPO. Root will begin a nationwide search for a CFO to replace him, the company said in a release. He will also take on the role of chief revenue officer, also a first for the company. Rostenthal's previous company was Milestone Aviation….....»»

Category: topSource: bizjournalsSep 21st, 2021

UiPath expands its executive leadership team

The company named former ServiceMax executive Bettina Koblick as its chief people officer......»»

Category: topSource: bizjournalsApr 27th, 2021

With promotion, Xcel Energy drops a big hint about its next CEO

Xcel Energy on Wednesday named Bob Frenzel its new president and chief operating officer, making him the likely successor to CEO Ben Fowke. Minneapolis-based Xcel (NYSE: XEL) didn't give any sign that Fowke, who's 61 and has been CEO for eight yea.....»»

Category: topSource: bizjournalsFeb 20th, 2020

Kindred Healthcare names new COO

Kindred Healthcare LLC — Louisville’s second-largest private company — has named a new member to its C-suite. Jason Zachariah is now the chief operating officer for the nationwide long-term acute and post-acute health care provider, accordi.....»»

Category: topSource: bizjournalsJan 24th, 2020

Nucor CEO stepping down at the end of 2019, successor named

Charlotte-based Nucor Corp.'s chairman and CEO, John Ferriola, will retire on Dec. 31. The company says Leon Topalian, currently the youngest member of Nucor's executive team, will take the chief executive position effective Jan. 1. The steelmaker,.....»»

Category: topSource: bizjournalsSep 6th, 2019

York Water CEO Set To Retire

In an 8-K filing, York Water Co (NASDAQ: YORW) said CEO Jeffrey Hines is set to retire on March 1, 2020, and chief operating officer Joseph Hand has been named as his replacement. Hines has been with the company since 1990. read more.....»»

Category: blogSource: benzingaJun 25th, 2019

Cerner chief people officer Julie Wilson to retire

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Category: blogSource: theflyonthewallMay 1st, 2019

Verizon CEO McAdam retiring, Vestberg named successor

Verizon's CEO is retiring and will be succeeded by its current chief technology officer, who is the former CEO of Ericsson......»»

Category: topSource: foxnewsJun 8th, 2018

Starbucks appoints Patrick Grismer CFO

Starbucks Corp. has named Patrick Grismer chief financial officer, succeeding Scott Maw, who will retire November 30. Grismer joins Starbucks from Hyatt Hotels Corp. where he .....»»

Category: topSource: marketwatchOct 8th, 2018

General Mills exec Keith Woodward named CFO of Tennant Co.

Tennant Co. has chosen Keith Woodward to be its next chief financial officer, the Golden Valley-based cleaning-equipment manufacturer announced Tuesday. Woodward will replace Tom Paulson, who in July announced his plans to retire. “We are thrilled .....»»

Category: topSource: bizjournalsNov 27th, 2018

MetLife names Khalaf CEO, Kandarian to retire

MetLife Inc on Tuesday named insider Michel Khalaf as its new chief executive officer to succeed Steven Kandarian, who held the position for eight years and helped the company ride through intense regulatory oversight in the wake of the financial crisis......»»

Category: topSource: reutersJan 8th, 2019

New FedEx president and COO gets cash bonus, $1M base salary

Last week, Raj Subramaniam became one of the most powerful people at FedEx. Today, the compensation for that new responsibility is known.  Subramaniam was named president and chief operating officer of Memphis-based FedEx Corp. Feb. 14 following the.....»»

Category: topSource: bizjournalsFeb 20th, 2019

"This Is Completely Avoidable" - New York Hospitals Prepare For Staffing Crisis As Vaccination Mandate Forces Mass Firings

"This Is Completely Avoidable" - New York Hospitals Prepare For Staffing Crisis As Vaccination Mandate Forces Mass Firings With President Biden's federal vaccine mandate set to take effect on Monday, health-care systems around the country are suspending elective in-patient surgeries and refusing to accept ICU patients from other hospitals as they brace for potentially hundreds of firings of nurses and other critical staffers, potentially even doctors. According to the NYT, the Erie County Medical Center in Buffalo is planning to do all that and more, as it says it may soon fire about 400 employees who have chosen not to get the single job required by the edict (which was pushed through despite being blocked by a federal judge). Similarly, officials at Northwell Health, the state's largest health-care provider, estimate that NWH might be forced to fire thousands of people who have refused to get vaccinated. In an economy with more job openings than workers - 2.2MM more, to be exact - forcing workers to choose between employment and their health or religious compunctions simply isn't a smart idea. Without even a hint of self-awareness, the governor apparently agrees: "What is looming for Monday is completely avoidable, and there’s no excuses,” Ms. Hochul said, pleading for those who have not done so to get vaccinated," Hochul said during a weekend press briefing. But we digress. The situation is less dire in NYC, but there will still be plenty of hospitals left with massive staffing holes after mass-firings. The city's largest private hospital network, NewYork-Presbyterian, has more than 200 employees who may face termination because they haven't received at least one jab. Of course, as we have pointed out in recent posts, health-care workers are only a fraction of the worker who will be impacted by shortages across the economy. In California, nurse shortages have reached crisis levels in California, airlines are seeing flights frequently cancelled due to worker shortages. As of late September, 84% of NY's 450,000 hospital workers and 83% of nursing home workers - which number around 45,400 - remained unvaccinated.  Despite being directly threatened by their superiors, most say they're refusing the jab on religious or health grounds, or because they're allergic to certain ingredients. In an effort to scare workers into compliance, NY Gov. Kathy Hochul has threatened to find "foreign workers" to staff the Empire state's hospitals and care homes (despite the fact that vaccination rates are much lower in most of the world outside the US). She has also threatened to call in the National Guard or order a state of emergency in a plan unveiled over the weekend. NY's teachers are also facing a mandate to either get vaccinated or kiss their jobs goodbye. Roughly 10,000 public school workers, that's compared to 75K teachers and tens of thousands of other employees from custodians to paraprofessioanls. Circling back to hospitals and care homes, institutions like Northwell are being relatively parsimonious with their exemptions for religious and health reasons, But some are getting through . NY's emergency order doesn't stipulate how exactly hospitals and nursing homes should enforce it, and there's a good chance that hospitals serving communities in greater need will be forced to make exceptions. Black and Hispanic New Yorkers have gotten the jab in far lower numbers than white new Yorkers. The NYT points out in its story that some hospitals in the Bronx see unvaccinated rates among doctors and nurses reaching into double-digit territory. At St. Barnabas Hospital in the Bronx, about 12 percent of the nearly 3,000 employees had not been vaccinated as of midday on Friday, the chief medical officer, Eric Appelbaum, said in an interview. The group includes roughly 3 important doctors, and plenty of badly eed studiws Anecdotally hospitals are reporting a surge in vaccinations among hospital workers who haven't yet been vaccinated. But who knows what to believe. All we know is that we wouldn't want to be having an elective surgery or delivering a baby in NY right now. Tyler Durden Sun, 09/26/2021 - 21:00.....»»

Category: personnelSource: nyt4 hr. 18 min. ago

Power Supply Shock Looms: "Global Markets Will Feel The Pinch Very Soon" Of China"s Next Crisis

Power Supply Shock Looms: "Global Markets Will Feel The Pinch Very Soon" Of China's Next Crisis Distracted by the 'grandness' of the collapse of China's property development market, many have missed the fact that China faces a crisis that could directly hit Asia's economy just as hard as a financial collapse - a nationwide power supply shock. After ramping up its coal-based power production earlier in the year, it appears Beijing has suddenly grown a conscience over its emissions and the 'average joe' could be about to feel the pain of that decision. Climate change facts: Chinese CO2 emissions are more than double those of the US, and greater than US and EU combined. pic.twitter.com/ZpJCoPaUjB — zerohedge (@zerohedge) October 6, 2020 As Bloomberg reports, the crackdown on power consumption is being driven by rising demand for electricity and surging coal and gas prices as well as strict targets from Beijing to cut emissions. It’s coming first to the country’s mammoth manufacturing industries: from aluminum smelters to textiles producers and soybean processing plants, factories are being ordered to curb activity or - in some instances - shut altogether. "With market attention now laser-focused on Evergrande and Beijing’s unprecedented curbs on the property sector, another major supply-side shock may have been underestimated or even missed,” Nomura Holding Inc. analysts including Ting Lu warned in a note, predicting China’s economy will shrink this quarter. As a reminder, China pollutes more than the US and all developed countries combined... More problematic for Greta and her pals, between the years 2000 and 2020, the amount of electricity generated by burning coal increased more than four-fold in China, hitting around 4,600 terrawatt hours in the past year. You will find more infographics at Statista As the scene below suggests, this is not the first time China has faced winter power demand surges (which prompted many to turn to diesel generators to plug the shortages of power from the electricity grid). However, this year is different. The danger is that, as Zeng Hao, chief expert at consultancy Shanxi Jinzheng Energy, warns: government policies will significantly limit the energy industry’s potential to increase production to meet the demand increase. 2021's worsening power crunch in China reflects three specific factors: 1) Extremely tight energy supply globally (that's already seen chaos engulf markets in Europe); 2) The economic rebound from COVID lockdowns that has boosted demand from households and businesses (as lower investment by miners and drillers constrains production); and 3) President Xi Jinping tries to ensure blue skies at the Winter Olympics in Beijing next February (showing the international community for the first time that he's serious about de-carbonizing the economy). Simply put, it is the third factor - which is all of its own making - that has raised the risk of a severe shortage of coal and gas - used to heat homes and power factories - this winter; and more ominously, expectations of the need to ration power to those deemed worthy. “The power curbs will ripple through and impact global markets,” Nomura’s Ting said. “Very soon the global markets will feel the pinch of a shortage of supply from textiles, toys to machine parts.” As we noted earlier in the year, China needs to shutter 600 coal plants to meet its emissions goals of net zero greenhouse emissions by 2060. If Xi's recent actions in the interests of "common prosperity" are really about forestalling social unrest, we suspect his commitment to meeting self-imposed carbon emissions targets may quickly evaporate as the Chinese people are unlikely to stand sustained black-outs for long without upheaval. Tyler Durden Sun, 09/26/2021 - 20:30.....»»

Category: dealsSource: nyt6 hr. 2 min. ago

Pret A Manger is tempting US coffee lovers with its subscription service, capitalizing on a booming trend among retailers

Pret A Manger's announcement follows a successful rollout in the UK, which garnered 16,500 subscriptions on its debut day. In 2020, Pret garnered 16,500 subscriptions on its first day in the UK. Photo by: Newscast/Universal Images Group via Getty Images Pret A Manger has launched its coffee-subscription program in New York City and Washington, D.C. It follows a successful rollout in the UK, which garnered 16,500 subscriptions on its debut day. The coffee market is showing resilience, said an expert from the Speciality Coffee Association. See more stories on Insider's business page. Cafe chain Pret A Manger has launched its coffee subscription service in New York and Washington D.C., the company recently announced. Its US debut comes after a successful rollout in the UK market. In 2020, Pret garnered 16,500 subscriptions on its first day in the UK. "After seeing success in the UK market, Pret A Manger is eager to offer its US customers a program with similar benefits, starting with a free first month for all new subscribers," the company said in a statement. The coffee market has shown resilience during the pandemic, according to Peter Giuliano, chief research officer of the Speciality Coffee Association. "Lots of people were predicting reduced coffee consumption caused by the pandemic, some even predicting the end of the small coffee shop," he told Insider. Some brands have been able to adapt to a new normal, however. "Chains who made a strong pivot to at home consumption, focusing on programs like subscription services, seemed more resilient during the pandemic," Giuliano said.The service will operate via Apple or Google digital wallets or QR codes, which are emailed to subscribers. As in the UK, customers have to wait 30 minutes between each order using the service. This is to prevent people buying drinks wastefully or for friends without a subscription, Insider's Grace Dean reported. "We recognize our customers need for ease, flexibility and value, and this subscription model will be able to provide that," said Jorrie Bruffett, president of Pret A Manger in the US.Bruffett said the chain has also invested in new technology to enhance the overall customer experience. "This innovation in technology comes with a new app redesign and more exclusive perks to be launched later this year," he said in a statement. The subscription economy has experienced growth of more than 435% over the last nine years, according to Zuora, a subscription-management platform.Like Pret, other chains in the restaurant space have tested out subscription-based models as a way to retain customers. Restaurants are following the success of models from Netflix and Amazon in the subscription sales industry, which is projected to hit $263 billion by 2025 according to Juniper Research. In 2020, Panera debuted an unlimited-coffee subscription for its MyPanera loyalty program members, which costs $9 a month, or about $108 annually. More recently, Taco Bell announced it is testing an in-app-only taco subscription in Arizona for $5. Customers who sign up for a Taco Lover's Pass can indulge in a free taco daily, for 30 days. Pret's subscription service was first launched as a plan to turn around its finances, which were knocked by the COVID-19 pandemic. The company's sales slumped 74% in 2020, compared with 2019. Insider's Grace Dean reported. It also cut a third of its UK workforce in 2020 and closed multiple stores in the US.But Sean Keith, director of new business development at Eagle Eye, which powers Pret's subscription, previously told Insider that the subscription program was a success for bringing in new customers and keeping them coming back."We see businesses that are playing in subscriptions are out-competing businesses that are not," he said. Pret's classic plan is $19.99 a month and includes all organic coffees and teas with a flavored syrup add-on. Its premium plan costs $29.99 a month and includes all espresso-based, barista-made drinks, as well as organic coffees and teas with an espresso shot or flavored syrup add-on. Both plans include hot or iced drinks of any size. Read the original article on Business Insider.....»»

Category: worldSource: nyt22 hr. 18 min. ago

Democrats In Congress Try To Abolish Space Force

Democrats In Congress Try To Abolish Space Force Authored by Li Hai via The Epoch Times, Some Democrats in Congress are trying to abolish the Space Force at a time when China and Russia have been doubling down on expanding their military capabilities in space. On Wednesday, Rep. Jared Huffman (D-Calif.) introduced a bill named No Militarization of Space Act, trying to abolish the Space Force, a new military service branch created under former President Donald Trump. “The long-standing neutrality of space has fostered a competitive, non-militarized age of exploration every nation and generation has valued since the first days of space travel,” Huffman said in a statement. “But since its creation under the former Trump administration, the Space Force has threatened longstanding peace and flagrantly wasted billions of taxpayer dollars.” The Space Force was established in December 2019 and has been deemed by some to be one of Trump’s signature achievements. But its origin can be traced back to the beginning of the Cold War. “Our mission must be to support the American people, not spend billions on the militarization of space,” Huffman added. Huffman’s bill was co-sponsored by Reps. Mark Pocan (D-Wis.), Jesús García (D-Ill.), Rashida Tlaib (D-Mich.), and Maxine Waters (D-Calif.). The bill comes as Congress moves to pass the National Defense Authorization Act, the annual bill that authorizes funding for the military. Huffman’s bill is unlikely to succeed because the new military branch was established upon the National Defense Authorization Act (FY 2020), which received bipartisan support at the time. To cancel the Space Force, new legislation would need to be enacted. China and Russia have been trying to advance their military capabilities in space for years. China’s communist regime “has devoted significant resources to growing all aspects of its space program, from military space applications to civil applications,” reads the Pentagon’s latest annual report to Congress. In May, China placed a rover on Mars, becoming the second nation after the United States to do so, the state-run Xinhua News Agency reported. China has continued to develop its space station and explore the moon. According to the Center for Strategic and International Studies and the Secure World Foundation reports, Russia performed multiple anti-satellite weapons tests in 2020. China and India have tested their own military capabilities in orbit in past years, too, Axios reported. On Monday at the Air Force Association’s Air, Space & Cyber Conference, U.S. Air Force Secretary Frank Kendall said that the threats presented by China continue to grow, including those from space. On Tuesday, Gen. John “Jay” Raymon, chief of Space Operations, talked about the anti-satellite weapons China and Russia have owned. China has deployed satellites with a robotic arm that could be used to “grab” other satellites. Russia has a co-orbital, anti-satellite weapon that “is specifically designed to kill U.S. satellites,” Raymon said during the same conference. President Joe Biden hasn’t publicly shared his views on the future of the Space Force. His press secretary Jen Psaki dodged such a question in February, weeks after Biden took office. However, she took to Twitter to say that “we look forward to the continuing work of Space Force,” signaling that Biden had no intention to change Space Force’s status at the time. “We look forward to the continuing work of Space Force and invite the members of the team to come visit us in the briefing room anytime to share an update on their important work,” Psaki wrote. The Epoch Times has contacted the White House and the Space Force for comment. Tyler Durden Sat, 09/25/2021 - 21:00.....»»

Category: dealsSource: nytSep 25th, 2021